ABU DHABI - Tabreed, the world's leading district cooling company, approved a cash dividend of 15.5 fils per share, totalling over AED441 million, to be paid fully in cash, during its Annual General Assembly on Tuesday.

Over the past five years, Tabreed has delivered a total shareholder return of 96 percent in the form of share price increases and dividends. During 2024, the company reported record revenues and a 32 percent increase in net profit after tax.

The AGA was chaired by Tabreed's Chairman Dr Bakheet Al Katheeri, and during the meeting, shareholders also confirmed the appointments of new board members, Mansoor Al Hamed and Janis Rey Lozada.

Al Katheeri said that Tabreed had performed consistently well throughout 2024, reaping the benefits of prudent recent investments and a considered approach to business development and expansion. "This is one of the UAE's most resilient companies," he remarked, "and delivers excellent returns for its investors year after year, with 2024's dividend payments no exception.

Tabreed has entered 2025 with impressive momentum, already having raised $700 million via its inaugural, five-year green Sukuk, and entering a new joint venture with Dubai Holding to supply sustainable district cooling to one of the UAE's most exciting real estate projects, Palm Jebel Ali.

The company's balance sheet is stronger than ever, and there is a strong pipeline of promising opportunities ahead.

During 2024 Tabreed completed two new plants and added 23,576 Refrigeration Tons [RTs] of new connections across the company's portfolio, in the UAE, Saudi Arabia, Oman, Egypt and India.

Tabreed also saw consumption volumes grow during 2024, increasing by 5 percent to 2.66 billion refrigeration tonne hours (RTH).


RM